Chinese tycoon gets go-ahead to build vast central London ‘palace’
Westminster council unable to block Cheung Chung-kiu’s grand plans for Knightsbridge property despite ban on “Monopoly board-style” homes
A Chinese billionaire has been granted planning permission to construct an eight-storey, 5,760-sq metre (62,000-sq-ft) private palace overlooking Hyde Park, central London.
Westminster city council granted Cheung Chung-kiu, a Hong Kong-based property tycoon, permission to partly demolish and reconstruct 2-8A Rutland Gate, in Knightsbridge, in order to create his vast new home, which experts said could be worth up to £500m when completed.
Source: Business – The Guardian